Comerica (NYSE:CMA) Given “Overweight” Rating at Stephens

Comerica (NYSE:CMA)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a report released on Wednesday,Benzinga reports. They presently have a $72.00 price target on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 23.26% from the stock’s current price.

Other analysts have also issued reports about the company. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada cut their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. Robert W. Baird increased their price target on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, DA Davidson reduced their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Comerica has a consensus rating of “Hold” and an average price target of $68.67.

Comerica Price Performance

Shares of Comerica stock traded down $1.11 on Wednesday, reaching $58.42. 422,021 shares of the stock were exchanged, compared to its average volume of 2,037,843. Comerica has a one year low of $45.32 and a one year high of $73.45. The firm has a market cap of $7.67 billion, a PE ratio of 11.66 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average is $64.48 and its 200-day moving average is $63.31.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the company earned $1.46 EPS. As a group, analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Comerica announced that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock valued at $311,464,000 after buying an additional 114,072 shares during the period. State Street Corp boosted its stake in shares of Comerica by 2.0% during the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock valued at $301,745,000 after purchasing an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock valued at $274,092,000 after buying an additional 125,514 shares during the period. North Reef Capital Management LP raised its stake in Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after buying an additional 550,000 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after buying an additional 72,391 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.